NIO provides battery buyout option for BaaS users

Shanghai (Gasgoo)- NIO has provided a battery buyout option for its BaaS (Battery-as-a-Service) users, but has not given a concrete implementation scheme.

According to NIO's mobile app, a BaaS user who wants to select the buyout solution should terminate the battery rental agreement with NIO first, and then buy out the battery pack and pay an additional service fee of 3,000 yuan ($465) for a new fully charged battery.

The cost of a standard-range battery pack (75/70kWh) is 70,000 yuan ($10,850), and 128,000 yuan ($19,840) is available for a long-range one (100kWh).

The service fee includes the expenditures generated in such links as warehouse logistics, dismantlement, and testing of power batteries.

Photo credit: NIO

In August 2020, NIO announced the launch of its new battery service, namely the BaaS, which would allow users to buy an EV at a lower price by subscribing to the battery pack separately. Users who buy a NIO car with the 70 kWh battery with BaaS can immediately enjoy 70,000 yuan ($10,850) off the price and only 980 yuan ($150) per month for the battery subscription.

In November of the same year, NIO launched its 100 kWh battery together with battery upgrade plans. For the purchase of a NIO car with the 100 kWh battery with BaaS, 128,000 yuan ($19,840) would be reduced from the car price with a monthly battery subscription fee of 1,480 yuan ($230) per month.

Besides, under the battery upgrade plans launched then, users of the 70 kWh battery can choose to either purchase the new battery for a permanent upgrade, or flexibly upgrade to it for 880 yuan per month ($136) or 7,980 yuan per year ($1,235).

As of April 18, 2022, NIO had deployed 900 battery swap stations across China, and its users had completed over 8 million battery swaps.